CSI’s Banking-as-a-Service Capabilities Facilitate New Fintech Partn...

Your unfiltered news center. ®

The world you see depends upon the news you get. ®

HOME

ARTS

RSS

Today's Date: April 1, 2023

UNITE HERE Local 11 Rallies with LA Councilmember Curren Price to Endorse Boycott of Tommie and Thompson Hotels • 160 Driving Academy Celebrates Women's History Month • HONDA DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Honda • BEST-EVER FIRST QUARTER AND MARCH SALES FOR KIA AMERICA • REATA PHARMACEUTICALS INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the • Statement by Minister Hussen for Sikh Heritage Month • Statement by the Ministers of Crown-Indigenous Relations, Indigenous Services, and Northern Affairs on the Catholic Church's re • Bass Named Women In Trucking Association's 2023 Driver of the Year • Realty Income Publishes Third Annual Sustainability Report • BLOCK DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Block • INVIVYD DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against Inv • REGiMMUNE Limited Licenses the Rights to Develop and Commercialize RGI-2001 To San Fu Biotech in Major Asian Countries • Wild Rivers Waterpark Drops Dates For Camp Wild Rivers Junior Lifeguards, a One-of-a-Kind Weekly Summer Camp for Orange County, • RYVYL DEADLINE ALERT: Bragar Eagel & Squire, P.C. Reminds Investors that a Class Action Lawsuit Has Been Filed Against RYVYL • TUP NOTICE: ROSEN, LEADING INVESTOR COUNSEL, Encourages Tupperware Brands Corporation Investors to Secure Counsel Before Importa • TGT INVESTOR NOTICE: Robbins Geller Rudman & Dowd LLP Announces that Target Corp. Investors with Substantial Losses Have Opp • New Birth Missionary Baptist Church Announces Outreach Activities, Plans for Easter Weekend • Why We Need to Ban ChatGPT in Elementary Schools • REDWIRE INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and D • UNice Hair Launches "UNice Empowering Workshop" Event

CSI’s Banking-as-a-Service Capabilities Facilitate New Fintech Partnerships

PADUCAH, Ky. , February 08 /Businesswire/ - CSI, a leading provider of end-to-end fintech and regtech solutions, announced today that its comprehensive suite of prebuilt open APIs has facilitated partnerships for ECHO Health, Inc. and MOCA Financial, Inc. with financial institutions to deploy Banking as a Service (BaaS) and payments initiatives.

CSI’s advanced application programming interface (API) capabilities provide simple, secure and audited access to a host of solutions including account opening, deposits, savings, payments, cards, identity verification and other critical lines of financial services.

These APIs enable fintechs to seamlessly connect to financial institutions within CSI’s tech ecosystem to create and deliver BaaS applications. For financial institutions, this creates unparalleled opportunities to capture new revenue, mitigate operational risk and better manage data security.

ECHO Health, Inc., a market leader in insurance claim disbursements, is leveraging Anchor Bank, a CSI enterprise banking core customer, as the facilitating sponsor bank. In conjunction with CSI, the partnership enables ECHO to streamline high volumes of individual coverage HRA (ICHRA) disbursements, issue virtual card payments to healthcare providers through commercial credit and prepaid cards, and enable easier user access to healthcare savings accounts.

“Reducing friction in our payments processing services has long been a priority,” said Jeff Lewis, senior vice president of payments at ECHO. “CSI’s prebuilt open API platform—combined with its long history of financial services and fintech innovation—meant they were the perfect partner to help us deploy this initiative, which streamlines our current payments operations and creates a new opportunity to automate and scale our capabilities.”

MOCA Financial, Inc., a digital-first card-based payments provider, and CSI core customer Horizon Bank have also implemented CSI’s API technologies to grow share of wallet and enhance the overall customer experience. The relationship provides Horizon Bank customers with native mobile payments services and purpose-driven cards thanks to MOCA’s innovative card program delivered through CSI.

“Community banks are increasingly exploring open banking and BaaS applications as growth engines that can help them create value for their account holders and become attractive options for fintechs,” said David Culbertson, CEO and president of CSI. “Our BaaS options are helping financial institutions and fintechs alike make those connections and develop solutions that are quickly becoming the future of financial services.”

According to the recent Banking Priorities Executive Report, 23% of banking executives are looking at BaaS options to create new revenue streams and 32% see an opportunity to implement more customer-friendly innovations with APIs. CSI is addressing these needs by empowering banks with safe and secure technology that improves data access and sharing and creates new pathways for growth and efficiency in a competitive market.

For more information on CSI, visit csiweb.com.

About CSI

As a forward-thinking technology partner, Computer Services, Inc. (CSI) delivers fintech, regtech and cybersecurity solutions to financial institutions and corporate customers, both foreign and domestic. In addition to its reputation for providing expert service, CSI focuses on propelling crucial technology advancements, accelerating speed-to-market and deploying solutions for fraud and anti-money laundering, account origination, small-to-medium businesses and treasury management, managed IT services and cybersecurity, real-time payments, open banking, Banking as a Service and more. From top global brands to community financial institutions across the nation, CSI delivers agile technology to its partners that’s designed to accelerate their growth and maximize their success. For more information, visit csiweb.com.

About ECHO Health, Inc.

ECHO^® is a technology company focused on removing complexity and costs from payment processing. We save our customers over $1 billion per year through comprehensive management of the claim payment process and providing access to the ECHO Payment Network, the industry’s largest network of insurers and service providers. ECHO settles over 500 million claims and distributes over $100 billion in payments securely across the ECHO Payment Network annually; and proprietary ECHO technology keeps policyholders and service providers happy by ensuring payments are sent in the manner they prefer.

About MOCA

MOCA, headquartered in the Austin suburb of Bastrop, Texas, is a fintech company founded and managed by community financial institution and payment industry veterans. With well over 125 years of industry experience, MOCA’s principals have been providing cutting edge financial products to community banks and credit unions for decades. For more information, please visit mocapay.com.